The fed is pouring so much money into the market/economy, that it has to go somewhere. Precious metals? Stocks? bonds? all of the above?
Look at how silver did from early 2009 to 2011. It went from $8 an oz to $50 an oz. The fed is pumping/printing money faster than they did last time. So far, gold is going up faster than silver.
My system is calling for a move to the Weekly 20MA now at 3025 but will be a little lower at the update Monday as it is sloping down.The 100MA turned price back week before last.
On the Monthly chart, price has hit the 20MA which sometimes is very strong S/R..According to my system we do not yet even have an up signal on the Monthly chart. CCI10 needs to cross back above -100 for that signal. Time wil tell
On the Daily chart, the signal is for a move to the 50MA which has been hit and exceeded.FWIW
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